What is a Nummus? 

The nummus (Plural: nummi) has a rich and varied history that spans several centuries and different cultures. It reflects the ancient world’s economic, political, and technological shifts and holds historic numismatic significance today. 

Nummus Origins and Etymology 

The word nummus is derived from the Doric Greek word noummos, which itself comes from the Classical Greek nómos, for “law” or “custom.” It initially referred to a specific type of coin used in Greek-speaking Southern Italy. Over time, the term grew to encompass various coins across different regions and historical periods. 

Evolution of the Nummus

Roman Usage 

Nummus was used as a general term for Roman Republic coins and was particularly synonymous with the sestertius, a large bronze coin crucial to the Roman economy. The Roman sestertius played a vital role in trade, taxation, and daily life, forming the economic backbone of Roman society. 

Late Antiquity 

During the Tetrarchy (294 AD), nummus formally came to refer to the follis, a large bronze coin weighing 10 grams and 30 mm in diameter. The follis played a significant role in Diocletian’s monetary reforms, which aimed to stabilize the faltering Roman economy. Constantine I reduced the size and weight of the silver plated follis around 307 AD, marking a shift to billon.  

The new issue featured a diademed portrait of Constantine, marking a significant shift in imperial imagery. The nummus underwent reduction and debasement over the fourth and fifth centuries, eventually losing even its silver plating. This deterioration mirrored the broader economic challenges facing the late empire. 

Byzantine Period 

As a Byzantine coin, the nummus weighed less than one gram and demonstrated poor strikes. They represented the lowest denomination of Byzantine coinage and were valued at fractions of the gold solidus. 

During the rule of Justinian I, adjustments were made to nummus coinage. Justinian I introduced a 30-nummi coin and raised the weight of the 40-nummi follis to 25 grams in 538-539 AD.  

Types of Nummus  

Type Denomination Key Features 
Follis 40 nummi Large bronze coin, emperor’s profile 
Semifollis 20 nummi Greek numeral “K”, smaller transactions 
Decanummium 10 nummi Greek numeral “I”, everyday exchanges 
Pentanummium 5 nummi Greek numeral “E”, small denominations 
Nummus Minimus <1 nummi Tiny, poorly struck, minor transactions 

Composition Changes Over Time 

Period Composition Weight Notable Changes 
Early Roman Bronze 10 grams Detailed imperial portraits 
Constantine I Silver-plated bronze Reduced size Introduction of diademed portrait 
Late Roman Billon (debased silver) 3 grams  Continuous reduction and debasement 
Byzantine Copper alloys 1 gram Poorly struck, smallest denominations 

Changes in design and material reflected economic realities, technological advancements, and political messaging strategies, showcasing how coinage evolved to meet societal needs. 

Regional Variations and Economic Impact 

Regional Mints 

Nummi were minted at diverse locations such as Antioch, Constantinople, and Carthage. Each mint imparted unique stylistic traits, influenced by local artistry and economic conditions. For example, Carthaginian issues featured reverse types like FELIX ADVENT AVC, GN with the mint mark PKP-T. These regional differences affected local circulation and trade preferences, making certain mints more influential in specific regions. 

Debasement Trends 

Over time, the nummus experienced significant debasement. While they initially weighed 10 grams, later examples shrank to under 3 grams, before the Byzantine one gram nummus emerged. Such degradation contributed to inflation, reduced purchasing power, and diminished public trust in the currency. This erosion of confidence led to hoarding behaviors and disruptions in trade, necessitating further monetary reforms. 

Archaeological Significance 

Archaeological finds, such as the Wold Newton Hoard discovered in East Yorkshire, provide valuable insights. This hoard contained 1,857 Roman copper nummi, including examples from Constantine’s reign. These discoveries shed light on ancient societies’ circulation patterns, economic conditions, and regional monetary practices. The nummus reflects broad societal transformations, from its Greek origins to its vital role in Roman and Byzantine economies.  

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

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Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

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Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.

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